June 3, 2023

Dubai Week

Complete Dubai News World


Falling gas prices in Europe

Futures prices for natural gas in Europe fell on Tuesday, with strong winds and mild weather forecast easing pressure on gas supplies across the continent.

The Bloomberg News Agency pointed out that hot weather in the early winter reduces demand for warmer weather, which led to lower gas prices, despite Russia’s hints that it would not increase the amount of gas it exports to Europe. European authorities approve magnificent natural gas pipeline. Controversial North Stream 2 carrying gas from Russia to Germany and Western Europe via the Baltic Sea.

At the same time, the presence of strong winds in the present day will lead to an increase to record levels from the wind power of Germany and Britain on Thursday, reducing the need to generate power plants with natural gas.

Dutch natural gas prices fell by 4.3 percent to 89.93 euros per megawatt-hour of electricity supply next month, a record price in the European market. Gas prices in the UK fell 4.8 percent to 225.91 pence a million pts. Carbon emissions and electricity allocations in Germany also fell yesterday.


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